Solana (SOL) Price Prediction for July 17

Key Points

1. Solana's price is hovering around $163.66, with resistance at $167.30 and support from $142, forming a tightening triangle pattern.

2. The Pump.fun ICO raised $600 million in 12 minutes on the Solana blockchain, validating its scalability and low-cost execution.

3. Technical indicators show a neutral Money Flow Index (MFI) at 48.66, with EMA clusters between $156–$162 suggesting a bullish stack.

4. A breakout above $167.30 could trigger a short squeeze towards $178–$185, while a drop below $162 may lead to a correction to $156–$158.

5. Open interest in derivatives increased by 2.49% to $8.16 billion, indicating heightened market participation.